Software startup Slintel raises $20 million led by GGV Capital

Its existing investors- Accel, Sequoia India and Stellaris Venture Partners also participated in the round. (Representative image)

Software startup Slintel said on June 10 that it has raised $20 million in a Series A round of funding led by GGV Capital- an investor in Airbnb, Slack and others.

Its existing investors- Accel, Sequoia India and Stellaris Venture Partners also participated in the round.

Founded by Deepak Anchala, Slintel helps companies make their sales and marketing efforts more efficient by helping analyse data which indicates who is more likely to be a customer. Slintel says it can be “the Robin to your Batman”, providing a company’s growth metrics, funding information, interests, tech stack, and thematic messaging to set up personalised account-based marketing campaigns.

This is also Hang Tung-led GGV’s sixth bet on an Indian internet company after B2B marketplace Udaan, gold loans startup Rupeek, online learning firm Vedantu, digital ledger platform Khatabook and insurance firm Turtlemint. Tung is one of the world’s leading venture capitalists and a common fixture on Forbes’ annual Midas List of dealmakers.

“With the global pandemic completely changing the way companies operate, B2B transactions have gone more digital than ever before. Inside sales teams are closing high-value, multi-million dollar deals while working remotely, and products like Slintel are enabling companies to do this by helping them reimagine their entire sales process for today’s environment,” Tung said.

GGV’s investment in Slintel also comes at a time when India-based software-as-a-service firms- which make most of their money from US-based clients- are taking off. Earlier this week, SoftBank invested in another software firm Whatfix, valuing it at $600 million. Slintel did not disclose its valuation.

“Deepak’s decade plus experience leading product, growth, and sales functions gives him the superpower of seeing where the puck is going and rallying people from diverse groups to capture this opportunity,” said Madhu Yalamarthi, Vice President at GGV Capital.

“Slintel is one of the global leaders in their technographics data – the information related to a target client’s current technology stack, renewal dates, future technology needs, and technology-based skill set trends. This data on over 27,000 technologies for over 16 million companies makes it a secret weapon for the sales team to get the right intel and not just info to be effective,” he added.